20 Million Could Lose Employer Insurance Under Obamacare

Remember when President Obama said if you liked your current health care plan you could keep it, and that it wouldn’t cost you any more? Well, he was either lying his ass off or doesn’t understand basic economics… A new report released by the non-partisan Congressional Budget office on Thursday offers four possible scenarios on the effects of Obamacare:

As many as 20 million Americans could lose the health insurance they now receive from their employers under President Obama’s new health care reforms, a report released Thursday shows.

The agencies warned, however, that they can’t really be sure how many people will lose their current coverage if the law is rolled out as planned in a few years.

Two things we can take away from this report; first, three years after it was passed no one, not the CBO or in industry, knows what effect Obamacare will ultimately on the health insurance market or on health care in general. Second, if the CBO is reporting 20 million Americans could lose their employer provided health insurance as the worst-case scenario, I think it’s safe to assume it’s really a best-case scenario… Let me try to put this into perspective for you, as self-employed small business owner I’ve seen my health insurance premiums more than double in the last two years — from $803.58 a quarter in 2010 to $1640.67 a quarter this year.

Frankly, 20 million people losing their employer provided health insurance, sounds like serious underestimation to me.